304-111 Bond Street

Property Overview

This condominium at 304-111 Bond Street in Winnipeg’s Melrose neighbourhood presents a practical, mid-range urban living option. Built in 2009, its primary appeal lies in its relative modernity compared to much of the city's housing stock, offering a balance of space and value. With just over 1,000 square feet and a recent 2024 sale price between $200,000 and $250,000, it sits comfortably in the middle of the market—neither a standout bargain nor a premium purchase, but a solid, average offering.

Key Characteristics & Ideal Buyer

The unit’s key characteristic is its balance. At 1,028 sqft, the living area is almost exactly the city-wide average for comparable homes. Its assessed value is similarly positioned in the middle of the pack locally and citywide. The notable feature is its age: built in 2009, it is newer than 70% of comparable city-wide properties, which is a significant advantage for buyers looking to avoid the maintenance issues and outdated systems common in older builds. However, within its immediate Melrose area, it is actually older than many comparable properties, suggesting the neighbourhood has seen more recent development.

Its appeal is for the pragmatic buyer. It suits a first-time homebuyer, a downsizer, or an investor seeking a straightforward, low-drama property that is unlikely to have major hidden surprises due to its modern construction. It’s not a luxury unit, but a functional space that offers a newer building envelope and systems than the typical Winnipeg home, potentially translating to lower immediate repair costs and better energy efficiency. The fact that it resold in 2024 indicates a liquid asset in a multi-unit building, appealing to those who value turnover and established condominium communities.

Frequently Asked Questions

1. What do the rankings (e.g., Top 56%) actually mean for value?
They show how this property compares to specific peer groups. For example, being in the "Top 56%" for living area on its street means 44% of comparable units on Bond Street are larger. It indicates you are getting a typically-sized unit for the building, not an unusually small or large layout.

2. The building is from 2009. What major components might need attention soon?
While newer than most of the city's housing stock, a 17-year-old building means major components like roof membranes, balconies, HVAC systems, and elevators could be approaching mid-life refurbishment. A review of the condominium reserve fund study is essential to understand future fee implications.

3. The assessed value is lower than the city-wide average for comparable homes. Is that good?
It can be a double-edged sword. It suggests a potentially lower property tax burden, which is a positive. However, it may also reflect the specific building, location within Melrose, or unit features that assessors value differently than the broader market, which could influence resale value.

4. How does being "older than average" in the Melrose area affect the property?
This is a less obvious point. While the unit is new city-wide, it's below average for its specific area. This could mean competing with newer buildings nearby with more modern amenities and designs, potentially applying a gentle downward pressure on appreciation compared to newer local builds.

5. How can I find out the exact 2024 sale price?
The provided price is a public data range. The exact sale price is available by request from the listing service. You can submit your email to receive the precise figure, as they manually provide this detail to verified users.